Promoting housing affordability by incentivizing the construction of American dream homes.

This bill creates a program to encourage the construction of "American dream homes," which are single-family homes of 1,500 square feet or less designed for low-income households. If passed, cities and counties would be required to offer incentives such as reduced permit fees and property tax exemptions for seven years. Builders would also receive tax credits, and the state would provide funds to offset these costs and offer down payment assistance to buyers.

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